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Silver (XAGUSD:CUR) has outperformed gold (XAUUSD:CUR) since the October low, but it remains below its resistance level in the $30 area.
However, according to Roth MKM analysts, in a Technical Strategy report, silver (XAGUSD:CUR) can “play catch-up and outperform.”
Silver (XAGUSD:CUR) is still almost 45% below its 2011 peak, while gold (XAUUSD:CUR) is reaching all-time highs.
“A breakout of Silver (XAGUSD:CUR) above $30 will suggest a $35.50 intermediate term price target, followed by $37.50, $44.30 and ultimately $50.00,” wrote Analyst JC O’Hara.
In addition, silver miners (NYSEARCA:SIL), (BATS:SLVP) are up 9.4% year-to-date, outperforming gold miners at 9.1% year-to-date.
These are the top ranked silver miner stocks, according to Roth MKM:
- Fresnillo plc (OTCPK:FNLPF)
- Gold Resource Corp. (GORO)
- Coeur Mining, Inc. (CDE)
- Gatos Silver, Inc. (GATO)
- Silvercorp Metals Inc. (SVM)
- McEwen Mining Inc. (MUX)
- Compania de Minas Buenaventura S.A.A. (BVN)
- Hecla Mining Co. (HL)
- Vizsla Silver Corp. (VZLA)
- Pan American Silver Corp. (PAAS)
- SilverCrest Metals Inc. (SIL:CA)
- MAG Silver Corp. (MAG)
- Triple Flag Precious Metals Corp. (TFPM)
- Wheaton Precious Metals Corp. (WPM)
- Endeavour Silver Corp. (EDR:CA)
- First Majestic Silver Corp. (FR:CA)
- Adriatic Metals PLC (OTCPK:ADMLF)
- Dolly Varden Silver Corp. (DV:CA)
- Korea Zinc Co. [Not covered]
- New Pacific Metals Corp. (NEWP)